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Title: Long run effects of high energy prices on energy intensity: A sparse filter approach Authors:  Jan Bruha - CNB (Czech Republic) [presenting]
Abstract: A model is presented linking energy prices to energy intensity. We use a sparse filter to show on a panel of advanced economies that periods of high energy prices are associated with a strong decline in energy intensity. Based on this finding, we derive conclusions for the long-run effects of high energy prices on external positions of energy importers and exporters.